Stats play an important role in decision making and understanding the scope of the growth in a particular industry. Currently, every segment of society is affected by the COVID-19 outbreak but as the situation gets better there are different assumptions that point towards an increase in demand and a change in customer preference in the market. 

Keeping our focus on the online food delivery market the scope of growth is predicted to be high post-COVID-19. For entrepreneurs planning to make heavy investments in the food industry must understand the market opportunities, customer preference and changes in trends with rest to the effects of the pandemic. 

Fats & Statistics: Online Food Delivery Business 

  • There is an increase of 650% in search results for “is food delivery safe” across the U.S. 
  • There is an increase of 285% in search results for “take-out” across the U.S. 
  • The market revenue has increased 204% from the year 2015 to 2020, powered by the introduction of a platform to customer services that are able to provide a wider selection of food variety and restaurants.

  • The Global food delivery app revenue is expected to grow up to $300 billion by the year 2027
  • According to BusinessofApps the total revenue of online food delivery apps in the U.S. is projected to amount to 42 billion US dollars by 2025. 

Here is an infographic giving an overview of the Online Food Delivery Market:

Source: FATbit Technologies

Wrap Up

Considering the current market situation there are some food industry trends that may stay beyond the COVID-19 like:

  • Increased adherence to safety protocols
  • Rising demand for online food ordering services
  • Persistence of contactless delivery options 
  • The surge in the adoption of Ghost kitchen models 
  • The emergence of differential pricing options for restaurants

The market is in favour of business ideas like online food ordering and delivery business. Those entrepreneurs who are planning to step into the online food delivery business must do it soon to enjoy the increase in demand and profits. 

Here is an insightful blog sharing detailed insights about the future and the growing opportunities in the food industry “ Future of Online Food Delivery Segment in the Post Covid19 Era”